Comment on Borrowing money against their stuff to get more stuff to borrow money...
RememberTheApollo_@lemmy.world 1 day agoI don’t know what the financial consequences would be. Taxing unrealized assets would also have to have limits because so many retirement funds and the like are unrealized gains, we don’t want to hurt people’s ability to retire. That’s why putting a tax on trying to sidestep paying capital gains makes more sense. We’re not going to figure out how that all works here today. People won’t sit on unrealized gains, they’re going to have to use them in some fashion even if just as collateral, and we need to tax whatever workarounds they use to make those funds work for them.
Leonardo_da_Vinci@lemmy.world 23 hours ago
The rule applies for people with billion dollars of assets.
RememberTheApollo_@lemmy.world 23 hours ago
They divest the assets into holding companies, like they already do, held by LLCs.
ThirdConsul@lemmy.zip 22 hours ago
Then make it also apply for LLC, or for everyone except (list). I mean every set can be quantified.
Randomgal@lemmy.ca 4 hours ago
No. Not every set can be quantified. This is real life. You have a limited amount of resources and manpower and you have to get the most money with that limited pool.
The less resources you have, the lesser and more imprecise your information becomes. Solutions that require even more precise tracking of even more entities, with endless resources for legal battles, is the opposite of a solution.
They need to fund the feds and give them enough to effectively use the tools they already have.
RememberTheApollo_@lemmy.world 6 hours ago
But then LLc’s can also be legit businesses, and sometimes moving money to an LLc can be a legit investment in a company and not just a shell.
Look, I already said there’s a lot of moving parts here and and we’re not going to solve it on Lemmy, so no need to keep getting in the weeds over this issue.